Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    An economist accuses two sides of manipulating the dollar and prices

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 277762
    Join date : 2012-12-21
    • Post n°1

    An economist accuses two sides of manipulating the dollar and prices Empty An economist accuses two sides of manipulating the dollar and prices

    Post by Rocky Sat 26 Jun 2021, 6:32 am

    An economist accuses two sides of manipulating the dollar and prices

    •  Time: 06/25/2021 15:17:45
       
    •  Reading: 884 times

    [You must be registered and logged in to see this image.]
      
    {Economic: Al Furat News} An economic expert accused "speculators and private banks" of trying to manipulate the "citizen's brains" to raise the dollar exchange rate and the prices of goods and foodstuffs.
    The useful summary.. In important news, you can find it on Al-Furat News Channel on Telegram.. [You must be registered and logged in to see this link.]
    Bassem Jamil Antoine told {Euphrates News} that "the Central Bank of Iraq has not lost control of the dollar price and its change, and the price is still within the process of supply and demand, and sometimes the law of supply and demand is on the side and speculators begin to manipulate."
    He also added, "The (parasitic) banks that have been officially approved are now manipulating the process, but they cannot continue."
    Antoine stressed that “the approval of monetary policy is the main duty of the Central Bank, and indeed the dollar exchange rates have decreased, but it did not reach the ideal price, so the bank remains by subtracting the dollar until it achieves balance, but speculators and banks that try to play with the brains of the citizen exploit it to raise the prices of the dollar, food products and goods that are supplied to the market because They are all imported and valued on the dollar.
    And that "this matter needs time to keep the price of the dollar in the central bank stable."
    The Central Bank of Iraq had identified the reasons for the high exchange rate of the dollar in the past days.
    A member of the bank's board of directors and financial advisor to the Prime Minister, Mazhar Muhammad Salih, said that "the bank is able, through its interventionist policy, to limit the temporary rise in the dollar exchange rate against the Iraqi dinar and impose price stability in the local markets."
    He attributed the rise in the dollar's exchange rate against the Iraqi dinar to several reasons, including "building reserves and the need to finance foreign trade, as well as the double demand for foreign currency."
    Saleh pointed to "the bank's ability to control local liquidity by selling the currency," citing that "in the event that the bank sells $200 million, it will withdraw more than a quarter of a trillion dinars from local liquidity, which makes it a great control over that liquidity."     
    He stressed that "the official rate set by the Central Bank for the exchange of the dollar is 145 thousand dinars for one hundred dollars, and that the difference between the official central rate and the market price should not exceed 2%."  
    Saleh stressed that "the Central Bank is able to intervene and impose its monetary will that prevents the exchange rate from rising, according to plans prepared by the Central Bank."
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Thu 19 Sep 2024, 5:40 am